NIKE, Inc. (NYSE:NKE) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank has reduced its stake in NIKE, Inc. by 0.9%, now owning approximately $211.50 million worth of shares.
• Several analysts have recently upgraded their price targets for NIKE, with Bank of America raising it from $80.00 to $84.00, reflecting a growing confidence in the company's performance.
• NIKE announced a quarterly dividend of $0.40 per share, which will be paid on October 1st, representing an annualized yield of 2.2%.

Swiss National Bank trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,331,700 shares of the footwear maker's stock after selling 31,700 shares during the period. Swiss National Bank owned 0.23% of NIKE worth $211,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Capital World Investors boosted its position in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp boosted its position in shares of NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the period. Finally, Northern Trust Corp boosted its position in shares of NIKE by 8.8% in the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Citigroup raised their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Piper Sandler lifted their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

NYSE NKE traded up $0.89 during mid-day trading on Tuesday, hitting $74.91. The stock had a trading volume of 6,396,894 shares, compared to its average volume of 17,029,379. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a market cap of $110.63 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 2.70 and a beta of 1.27. The company has a 50 day simple moving average of $69.95 and a 200 day simple moving average of $67.55. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is 74.07%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.